First:
I would put away $70,000 in an interest accruing account for graduate school. I'm going to get my graduate degree in Counseling and Art Therapy. :-)
Second:
I would drop $25,000 to pay off my present debt, most of it student loans.
Third:
I would open another account and put $15,000 in there in case things ever got really bad. That's enough for me to live meagerly and pay rent for a year.
Fourth:
I would give $15,000 to charitable organizations, because if I have that kind of good fortune I need to give some of it back.
Fifth:
I would invest $15,000 in my health. Going to the doctor for a physical, getting my teeth fixed (I need implants, and my jaw is too small for my teeth), going to a nutritionist, and getting whatever medicines it might turn out that I need.
Sixth:
I would give $5,000 to my parents, because they've given me so much.
Seventh:
I would put $4,000 in an account to begin saving for a small, portable, eco-friendly, economically friendly, light-on-the-grid home.
See link about a family who did something like this, it's so awesome: http://dynamicsubspace.net/2011/06/05/family-of-three-live-in-320-sq-ft-custom-built-house-cost-20000-no-mortgage/
Finally:
I would put $1,000 dollars in my bank account to make life just a little easier.
Who knows, maybe I would get enough scholarships and grants for graduate school that I could redirect some of that money to the house. That would be really awesome. It will be awesome, period, if I can get most of my grad school paid for by scholarships and grants.
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